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Crystalex Nový Bor: od dedictví IPB k zátěžovému testu českého insolvenčního zákona
Čása, Tomáš ; Richter, Tomáš (advisor) ; Vacek, Pavel (referee)
v Summary The presented work describes and analyzes the course of insolvency proceedings in Crystalex Nový Bor, one of the largest corporate bankruptcies resolved under the Czech Insolvency Act. The core of the work focuses on the description and assessment of the case from the point of view of economic efficiency. The analysis of a large corporate bankruptcy case defined the key aspects of the proceedings and evaluated them in the context of the existing legal framework. The case confirmed a strengthened position of secured creditors, but could not find evidence for opportunistic abuse of this position. The Czech Insolvency Act respected pre- bankruptcy entitlements and the absolute priority rule. On the other hand, the course and the role of the moratorium and delays in the distribution of the liquidation proceeds were weak aspects of the proceedings. The selected method of insolvency resolution through liquidation and sale of the core operating assets together under one contract appeared the most plausible from the point of view of the type of distress in the company. Keywords: case study, financial distress, insolvency, insolvency proceedings, liquidation, asset sale Bibliographic record Čása, Tomáš: "Crystalex Nový Bor: From IPB Heritage to the Loading Test of the Czech Insolvency Act." Charles...
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Crystalex Nový Bor: od dedictví IPB k zátěžovému testu českého insolvenčního zákona
Čása, Tomáš ; Richter, Tomáš (advisor) ; Vacek, Pavel (referee)
v Summary The presented work describes and analyzes the course of insolvency proceedings in Crystalex Nový Bor, one of the largest corporate bankruptcies resolved under the Czech Insolvency Act. The core of the work focuses on the description and assessment of the case from the point of view of economic efficiency. The analysis of a large corporate bankruptcy case defined the key aspects of the proceedings and evaluated them in the context of the existing legal framework. The case confirmed a strengthened position of secured creditors, but could not find evidence for opportunistic abuse of this position. The Czech Insolvency Act respected pre- bankruptcy entitlements and the absolute priority rule. On the other hand, the course and the role of the moratorium and delays in the distribution of the liquidation proceeds were weak aspects of the proceedings. The selected method of insolvency resolution through liquidation and sale of the core operating assets together under one contract appeared the most plausible from the point of view of the type of distress in the company. Keywords: case study, financial distress, insolvency, insolvency proceedings, liquidation, asset sale Bibliographic record Čása, Tomáš: "Crystalex Nový Bor: From IPB Heritage to the Loading Test of the Czech Insolvency Act." Charles...
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Resolving of insolvency of business corporations trough bankruptcy
Marková, Martina ; Civínová, Denisa (advisor) ; Klára, Klára (referee)
The presented thesis tries to introduce the reader to the course of the insolvency proceedings, especially in bankruptcy proceedings. The theoretical part mainly discussed about the meaning and history of this institute, further aspects necessary for the commencement of insolvency proceedings and then there is described in more concise form the additional course up to the decision on the debtors bankruptcy. Subsequently, the author deals with the consequent procedure in cases where the debtors bankruptcy is solved by bankruptcy. Describes the course, focusing primarily on the sale of the debtors property and its subsequent allocation among the creditors until its conclusion, which is the submission of the final report by the insolvency administrator of the court, its subsequent approval and distribution schedule. In the practical part of the thesis the theoretical knowledge mentioned above is applied to the selected insolvency case of business corporation. In this part there are also pointed some potential problems and complexities that arose in this case. There is also described and analyzed the entire insolvency proceedings from filing an insolvency petition to the preparation of the final report by the insolvency administrator, that is the stage where the proceedings took place on the date of submission of this work. Furthermore, the author discusses the development and the number of insolvency proceedings in our country since 2008 when the new legislation of this institute came into force. On the same principle, the author also deals with the analysis of the most common types of obligations of business corporations.
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